Trump selected to advance in Bills' sale process

FILE - In this May 27, 2014 file photo, Donald Trump speaks at a National Press Club luncheon in Washington. Trump says he'll submit a bid to buy the Buffalo Bills but that it's unlikely his offer will be the winner. The billionaire businessman told Fox News that's because he's "not going to do something totally stupid" to make the team his. Trump spoke on the eve of Tuesday's, July 29, 2014, deadline for prospective owners to submit initial bids for the National Football League franchise. (AP Photo/Manuel Balce Ceneta, File)

Trump has offered $1 billion-plus to purchase the team, which went up for sale after owner Ralph Wilson Jr. died in June. If indeed he does win the bid, and there's serious doubt about whether he'll even be in the hunt, he apparently will sell his remaining stake in his casinos. The NFL's anti-gambling policy could mean that Trump would have a more difficult time getting approval, even though he only owns common stock in the casinos and has no executive authority.

Pegula's bid is approximately $1.3 billion, while the Bon Jovi bid could be as high as $1.2 billion. Approximately 15 groups expressed interest in bidding, but only the three bids came in by the Tuesday deadline. The Post reported that the Bills may be interested in extending the deadline because of the relative lack of bids.

Trump and Pegula would likely keep the team in Buffalo, while the Bon Jovi group would likely move the team to Toronto. Even so, Trump is not optimistic about his odds to win the team, "I would say the chances are very, very unlikely, because I'm not going to do something totally stupid," he said. "Maybe just a little bit stupid, but not totally stupid."

The team was valued by Forbes at $870 million, but the billion-plus price tag is not surprising because of the scarcity of NFL teams for sale. The prospective new owner could be announced before the start of the season, and could be voted on by other owners by midseason.